Redding, California, Sept. 07, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Asia-Pacific Smart Cities Market by Solutions (Smart Citizen Services, Smart Buildings, Smart Transportation), Component (Software, Hardware, Services), Technology (IoT, AI, Cloud Computing, Machine Learning), and Geography - Forecast to 2030, the Asia-Pacific smart cities market is projected to reach $1,635.3 billion by 2030, at a CAGR of 38.0% during the forecast period.
A smart city is an urban area that uses emerging technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), big data, cloud, and data analytics to collect and analyze data on infrastructure utilization and use the insights gained to manage assets, resources, and services more efficiently. The Asia-Pacific smart cities market is witnessing consistent growth due to government initiatives for urbanization management and the growing need to manage resources efficiently for sustainable development. Several advanced technologies are being incorporated into urban infrastructure to enhance the utilization of city resources and improve residents’ quality of life. These factors have encouraged governments around the region to launch smart city initiatives.
Download Free Report Sample Now: https://www.meticulousresearch.com/download-sample-report/cp_id=5571
The growth of this market is driven by the increasing government initiatives to manage the needs of the rising urban population, rising demand for fast and efficient transport, public safety concerns to accelerate smart city adoption, and the growing need for resource management and sustainable development. However, the significant initial investment requirements restrain the growth of this market. Furthermore, integrating artificial intelligence and increasing use and widening applications of IoT technology are expected to create market growth opportunities. However, the risk of data abuse by large corporations and reluctance to adopt new technologies is a major challenge for the players in this market. The latest trends in the Asia-Pacific smart cities market are the increasing use of 5G technology to boost internet connectivity and the proliferation of connected vehicles and autonomous drones.
The Asia-Pacific smart cities market is segmented by solution (smart citizen services [smart public safety, smart governance, smart street lighting, smart education, and smart healthcare], smart environment [climate monitoring, smart waste management, air quality monitoring, and noise mapping & monitoring], smart buildings [by solution and by type], smart transportation [by solution and by application], smart utilities [smart energy management, smart water management, and smart distribution management], and other smart solutions), component (hardware [endpoint devices, processing devices, network devices, and other devices], software [IoT device software, gateway software, cloud software, computing device software, and other software], and services [consulting services, system integration & deployment services, infrastructure monitoring & management services, network services, and other services]), and technology (IoT, artificial intelligence, cloud computing, machine learning, machine-to-machine communications, and other technologies). The study also evaluates industry competitors and analyzes the market at the region/country level.
Based on solutions, in 2023, the smart citizen segment is expected to account for the largest share of the Asia-Pacific smart cities market. The large market share of this segment is attributed to the rising adoption of smart public safety technologies to prevent and respond to emergencies and enhance the safety of citizens and the growing adoption of digital platforms such as social media, mobile apps, and online forums to engage citizens.
Have Any Query? Ask To Analyst: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5571
However, the smart utilities segment is projected to register the highest CAGR during the forecast period due to the rising adoption of utility solutions to improve performance and enhance operational transparency and the increased utilization of digital technologies such as advanced analytics and IoT to develop new business and operating models.
Based on component, in 2023, the services segment is expected to account for the largest share of the Asia-Pacific smart cities market. The large market share of this segment is attributed to the rising use of smart services to reduce operational costs through smart infrastructure monitoring and management and the increasing implementation of services to enhance the challenges of mobility, city services, and public safety. This segment is also projected to register the highest CAGR during the forecast period.
Based on technology, in 2023, the IoT segment is expected to account for the largest share of the Asia-Pacific smart cities market. The large market share of this segment is attributed to the growing use of IoT-based software, solutions, and services to enhance communication and control between citizens and governments, the growing use of machine-to-machine (M2M) communications, and the increasing implementation of connected devices.
However, the cloud computing segment is projected to register the highest CAGR during the forecast period due to the increasing adoption of efficient and scalable solutions for managing the vast amounts of data generated by smart city applications and the growing demand for data storage, processing, and analysis in urban areas.
Quick Buy – Asia-Pacific Smart Cities Market - Opportunity Analysis and Industry Forecast (2023-2030), Research Report: https://www.meticulousresearch.com/Checkout/29952156
Based on country/region, in 2023, China market is expected to account for the largest share of the Asia-Pacific smart cities market. The large market share of China is attributed to the rising adoption of smart cities solution to promote intelligent urban design, construction, management, and services and growing government initiatives to deploy smart city solutions to sustain public services, drive economic competitiveness, and enable a thriving environment.
However, Japan is projected to register the highest CAGR during the forecast period due to the growing government initiatives for the Society 5.0 concept to achieve sustainable development goals, the growing need for public safety and communication infrastructure, and the rising use of IoT technologies.
The key players operating in the Asia-Pacific smart cities market include Cisco Systems, Inc. (U.S.), Huawei Investment & Holding Co., Ltd. (China), IBM Corporation (U.S.), Siemens AG (Germany), Cognizant Technology Solutions Corporation (U.S.), Capgemini (France), Schneider Electric SE (France), Intel Corporation (U.S.), Qualcomm Technologies, Inc. (U.S.), Fujitsu Ltd. (Japan), Robert Bosch GmbH (Germany), Atos SE (France), Hon Hai Precision Industry Co. Ltd. (Taiwan), LTIMindtree Limited (India), and General Electric Company (U.S.).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/asia-pacific-smart-cities-market-5571
Scope of the report:
Asia-Pacific Smart Cities Market Assessment, by Solution
- Smart Citizen Services
- Smart Public Safety
- Surveillance
- Command & Control Centers
- Smart Governance
- Smart Emergency Management
- Smart Law Enforcement
- E-Governance
- Smart Street Lighting
- Smart Education
- Smart Healthcare
- Connected Healthcare Solutions
- Telemedicine
- Smart Public Safety
- Smart Environment
- Climate Monitoring
- Smart Waste Management
- Air Quality Monitoring
- Noise Mapping & Monitoring
- Smart Buildings
- Smart Building Market, by Solution
- Smart Energy Management
- Smart Facility Management
- Safety And Security Management
- Smart Lighting Control Systems
- Elevators & Escalators Management Systems
- Smart Building Market, by Type
- Commercial Buildings
- Public Buildings
- Residential Buildings
- Smart Building Market, by Solution
- Smart Transportation
- Smart Transportation Market, by Solution
- Traffic Management Systems
- Parking Management Systems
- Freight Information Systems
- Ticketing & Travel Management Systems
- Passenger Information Management Systems
- Smart Transportation Market, by Application
- Roadways
- Railways
- Airways
- Waterways
- Smart Transportation Market, by Solution
- Smart Utilities
- Smart Energy Management
- Smart Grid
- Smart Meter
- Smart Energy Storage
- PV Monitoring
- Meter Data Management
- Power Electronics Converters
- Smart Water Management
- Smart Distribution Management
- Smart Energy Management
- Other Smart Solutions
Asia-Pacific Smart Cities Market Assessment, by Component
- Hardware
- Endpoint Devices
- Processing Devices
- Network Devices
- Other Devices
- Software
- IoT Device Software
- Gateway Software
- Cloud Software
- Computing Device Software
- Other Software
- Services
- Consulting Services
- System Integration & Deployment Services
- Infrastructure Monitoring & Management Services
- Network Services
- Other Services
Asia-Pacific Smart Cities Market Assessment, by Technology
- IoT (Internet of Things)
- Artificial Intelligence
- Cloud Computing
- Machine Learning
- Machine-To-Machine Communications
- Other Technologies
Asia-Pacific Smart Cities Market Assessment, by Country/Region
- China
- Japan
- India
- Singapore
- South Korea
- Australia & New Zealand
- Malaysia
- Indonesia
- Rest of Asia-Pacific
Request Free Report Sample Now: https://www.meticulousresearch.com/request-sample-report/cp_id=5571
Related Reports:
Smart Cities Market by Solution (Smart Citizen Services, Smart Environment, Smart Buildings, Smart Transportation, Smart Utilities, Other Smart Solutions), Component (Hardware, Software, Services), Technology, Geography - Global Forecast to 2030
https://www.meticulousresearch.com/product/smart-cities-market-5087#
Smart Building Market by Offering (Solution (Energy Management, Infrastructure Management, Safety & Security Management, Network Management) & Services), End User (Residential, Commercial, and Industrial) and Geography - Global Forecast to 2029
https://www.meticulousresearch.com/product/smart-building-market-5372
Smart Transportation Market by Transportation Mode, Product Type (Solutions & Services), Application (Mobility as a Service, Route Information, Route Guidance, Public Transport, Transit Hubs, Connected Cars), and Region - Global Forecast to 2028
https://www.meticulousresearch.com/product/smart-transportation-market-5199
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/803/asia-pacific-smart-cities-market-2030
